Monarch Casino & Resort, Inc. (NASDAQ:MCRI) Given Average Recommendation of “Hold” by Brokerages

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have been assigned a consensus recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $84.00.

A number of equities analysts have commented on the stock. Truist Financial upgraded shares of Monarch Casino & Resort from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $82.00 to $100.00 in a report on Tuesday, January 14th. Stifel Nicolaus boosted their price objective on shares of Monarch Casino & Resort from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Wells Fargo & Company assumed coverage on shares of Monarch Casino & Resort in a report on Monday, December 16th. They issued an “underweight” rating and a $79.00 price objective on the stock. StockNews.com lowered shares of Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Jefferies Financial Group boosted their price objective on shares of Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, January 3rd.

Insider Buying and Selling

In other Monarch Casino & Resort news, CEO John Farahi sold 1,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $77.70, for a total value of $77,700.00. Following the completion of the transaction, the chief executive officer now owns 528,436 shares in the company, valued at approximately $41,059,477.20. This represents a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.94% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Trust Point Inc. boosted its holdings in shares of Monarch Casino & Resort by 1.5% in the third quarter. Trust Point Inc. now owns 11,008 shares of the company’s stock valued at $873,000 after acquiring an additional 162 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Monarch Casino & Resort by 61.0% in the third quarter. GAMMA Investing LLC now owns 470 shares of the company’s stock valued at $37,000 after acquiring an additional 178 shares in the last quarter. Heritage Family Offices LLP boosted its holdings in shares of Monarch Casino & Resort by 7.0% in the fourth quarter. Heritage Family Offices LLP now owns 2,993 shares of the company’s stock valued at $236,000 after acquiring an additional 196 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Monarch Casino & Resort by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 24,706 shares of the company’s stock valued at $1,949,000 after acquiring an additional 210 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Monarch Casino & Resort by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,948 shares of the company’s stock valued at $785,000 after acquiring an additional 250 shares in the last quarter. 62.37% of the stock is currently owned by institutional investors.

Monarch Casino & Resort Trading Down 0.6 %

Shares of Monarch Casino & Resort stock opened at $84.83 on Tuesday. The company has a fifty day moving average price of $82.46 and a 200 day moving average price of $78.79. Monarch Casino & Resort has a twelve month low of $64.50 and a twelve month high of $89.06. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 18.77 and a beta of 1.74.

About Monarch Casino & Resort

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.